AFP - The rating agency Fitch Ratings said Friday it lowered the rating to three notches from the long-term debt of Greece, Athens has denied a penalty as not taking into account its commitments to intensify recovery efforts economy.
This degradation, preceded in January by a notch down from the Greek notes, to "B +" cons "BB +" reflects "the extent of the challenge" facing the country to implement the tax reform agenda and Structural necessary to reduce its debt and deficit, Fitch said in a statement.
"Further austerity measures are needed to fulfill the objective of a deficit reaching 7.5% of GDP in 2011," partly because of lower tax revenues than expected, "she says.
The decision "does not take into account the additional commitments that the Greek government has already taken to achieve its budget target in 2011 and accelerate its privatization program," responded the Greek Ministry of Finance in a statement.
The ministry said that these new measures, including guidelines were unveiled in mid-April but that Greece had to strengthen and clarify under pressure from its creditors EU and IMF, should be announced shortly, usually in early next week.
The rating agency said its new note incorporates its expectations of new grant "substantial" from the European Union and the International Monetary Fund in the country.
This additional loan of 110 billion made in May 2011 is currently under discussion, given the likely inability to return the country to raise capital on schedule in 2012.
Fitch believes that such an extension would eliminate the prospect of a "soft restructuring or reshaping" of the Greek debt would amount to an agency by default.
The new Fitch degradation brought Greece into the speculative grade "countries that do little security for repayment," according to the classification established by the agency.
The rating of short-term debt was maintained at "B".The prospect of these two notes is "negative", which implies that the agency does not lower them further over the medium term.
The agency announced this degradation while long rates Greeks beat a new record on Friday, rising above 16.5%, after breaking the taboo until then prevailing in Europe about the prospect of a debt restructuring Hellenic .
If the option of a discount is excluded, the rescheduling is now posed, including the leader of the finance ministers of the eurozone, Jean-Claude Juncker, despite the firm opposition of the Bank European Central Bank (ECB).
Creditors of Greece, however, are unanimous in requiring it more austerity measures, as well as the acceleration and intensification of a privatization program meant to deflate the debt relating to the country 50 billion by 2015 .
Even before the sanction of the agency, the Greek Finance Minister George Papaconstantinou, had highlighted its determination to follow these injunctions: "it is time to go faster, everything must be done and everything must be done now, "he said in Parliament Friday.
Fitch Ratings was the latest rating agency to tilt in January of Greece in the category of debt issuers "rotten" ("junk bonds"), saying that despite "significant progress" in the country to reduce its deficit public, it still faces "significant effort" to regain the confidence of borrowers.
Friday, May 20, 2011
The agency Fitch lowered the rating of Greece
Tuesday, May 17, 2011
DSK CASE: The Socialist Party became more cautious on the matter DSK
"In this case, we know there are a victim, but we do not yet know if the victim is the complainant or the accused," said Tuesday the leader of the Socialist deputies, Jean-Marc Ayrault. "The both have the same respect. We do not want to feel that we are either in the dropping of Dominique Strauss-Kahn, is that we defend against the evidence," he said before the Socialist Group meeting in the National Assembly.
Also Tuesday, the first secretary of the Socialist Party (PS), Martine Aubry, said his side need to "wait for the facts" and "version of Dominique Strauss-Kahn."At a national office held at the Paris headquarters of the PS, she also asked to "respect the young woman" who accused him.
DSK promised to fire a nuclear
The prudence of these remarks contrasted with those of other socialists, such as Jean-Christophe Cambadelis, which evoked Monday innuendo conspiracy against Dominique Strauss-Kahn, indicted in New York for an alleged attempted rape of a maid, last Saturday.In a statement to the press, his lieutenant had launched from the steps of the Paris headquarters of the SP that the "nuclear fire" had actually been promised to the Director General of the International Monetary Fund (IMF), which intended to get into the presidential campaign French.
Tuesday morning, they were still some to leap to defend whatever the polls placed in a better position to access the Elysee in 2012 and denouncing the images of their champion handcuffed. "This is killing media", denounced the former justice minister, the socialist Robert Badinter, on France Inter, who accuses U.S. authorities of having "wanted this exhibition."Socialist MP Jack Lang, for his part felt that it was "not unthinkable" that the judge who delivered on Monday remanded in custody had wanted "to pay for a French".
The PS side of the post-DSK
If Martine Aubry today called a "great restraint", because the scenarios of the post-Dominique Strauss-Kahn agitate the news.Already, since the indictment of DSK, the predecessor to Martine Aubry at the head of the PS, François Hollande, rose in the polls from outsider status to that of primary favorite socialist planned next fall.
According to RTL radio, declared candidate Segolene Royal was to meet Tuesday DSK to Paris to study the conditions of his joining - that belies the Royal entourage. Finally, Martine Aubry is pressed by his relatives to declare himself a candidate since the former secretary is bound by a "pact" with mutual withdrawal of Dominique Strauss-Kahn.
But the first secretary said that even if the lines move, the case does not change the DSK gives the PS."We're not changing anything to our schedule, characteristic of a party is to stay focused," she said Tuesday morning on France Info. As for his possible candidacy, she said that it is "not the time to talk."
Saturday, May 14, 2011
COTE D'IVOIRE: Alassane Ouattara returns institution heads close to Gbagbo
AFP - The head of the Ivorian Alassane Ouattara ended Friday at the office of Presidents of Economic and Social Council and the Supreme Court, the Grand Chancellor of the order and two members of the Constitutional Court, relatives or supporters of former President Laurent Gbagbo.
Mr Ouattara has terminated the functions of Laurent Dona Fologo to head the Council écononomique and social character of the third state in the order of protocol, according to a presidential statement issued Friday evening.
In March, in full post-election crisis arose from the disputed presidential November 2010, Mr.Fologo had stated: "We do not negotiate the outcome of an election, there is nothing to negotiate (...) What kind of compromise can be found after an election between someone who was elected (Ed. M . Gbagbo) and the other (Ed. Ouattara) who was not elected? ".
He was replaced by Marcel Zadi Kessy, Chairman of the Board of Directors of Compagnie Ivorian Electricity (ICE)-Water Distribution Company of Côte d'Ivoire (Sodeci).
The Head of State also dismissed the chairman of the Supreme Court, Tia Kone, and Grand Chancellor of the National Order of the Republic of Côte d'Ivoire, General Issouf Kone.
Shortly after the April 11 arrest of Laurent Gbagbo, MM.Tia Kone and had all allegiance to Mr Ouattara. The first was replaced by the magistrate off hierarchy Mamadou Kone, and the second by Henriette Diabate Dagri-history professor.
Finally, two members of the Constitutional Council, Mr. Jacques Andre and Felix Daligou Monoko Tano Kouadio, who listed relatives of Laurent Gbagbo, sanctioned by the European Union, were also dismissed.
President Ouattara, who was sworn in on May 6 and May 21 will be invested in Yamoussoukro, also signed the order creating the Commission dialogue, truth and reconciliation, to be headed by former Prime Minister Charles Konan Banny.
Wednesday, May 11, 2011
Iran: Trial resumes for hikers in Tehran
The trial of two Americans detained in Iran in 2009 and accused of spying for Tehran would resume Wednesday, said Tuesday the U.S. State Department, which has demanded their release.
"Josh Fattal and Shane Bauer is almost two years in prison and it is time for them to find their families," said the spokesman of the State Department Mark Toner.
"We learned from our Swiss partner that Iranian authorities have confirmed the date of May 11 for the trial resumed," he said.
Switzerland looks after U.S. interests because the United States and Iran had diplomatic relations n'entretiennent.
Shane Bauer, Josh and Sarah Fattal Shourd were arrested July 31, 2009 near the border with Iraq. They say they were hiking in the mountains of Iraqi Kurdistan and they have crossed the border inadvertently.
Sarah Shourd was released in September against a deposit of $ 500,000. On Monday, the lawyer for the three Americans said that Tehran would likely Shourd did not resume his trial.
Under Iran's Islamic law, espionage can be punishable by death.
Sunday, May 8, 2011
A boat of migrants ran aground off Lampedusa
AFP - A boat carrying 300 migrants ran aground as it approached the Italian port of Lampedusa and many passengers, including women and children were thrown overboard, said Sunday the Italian agency Ansa, quoting official sources.
Coast Guard launched a rescue operation and have recovered dozens of passengers who had jumped into the sea after the boat had hit rocks, they added the same source.
The ship was apparently going to Malta but was escorted by Coast Guard Malta to Lampedusa, it was still indicated.
Sunday, another boat with 800 migrants on board also arrived in Lampedusa.
Thousands of refugees coming from Libya and Tunisia in recent weeks have arrived in Lampedusa.Migrants from Libya were mostly workers from Sub-Saharan Africa and Southeast Asia.
A minority is made up of Tunisians.
The day before, Saturday, hundreds of refugees traveling to Libya and two boats had already landed on the island of Lampedusa.
655 people, including 82 women and 21 children were aboard the first boat and 187, including 19 women and one child on board the second boat fishing rusty and overloaded.
Wednesday, May 4, 2011
EURO ZONE - PORTUGAL: The aid approved by Brussels and the IMF is she a "good" plan?
Not 100, not 80, but 78 billion euros. After two weeks of negotiations, Portugal, the European Union and the International Monetary Fund (IMF) reached an agreement Tuesday night on how the international aid plan. It will therefore ultimately less than what had been anticipated in financial markets.
Good news for the Portuguese government, which can boast of being the least helpful of the three countries have received international financial support. "It's a good plan", welcomed the Portuguese Socialist Prime Minister Jose Socrates.He even suggested that the terms negotiated in return for allowing his country to be better off than Ireland and Greece - the other two European states have been helped by the EU and the IMF. What is it exactly?
78 billion euros, is it thousands? The amount is released over three years, close to a few billion, forecasts the Prime Minister of Luxembourg Jean-Claude Juncker. On 24 March he said on France 24 expect a plan of international aid of about 75 billion if Portugal was in demand.
This envelope corresponds to approximately euro cents, the borrowing of Portugal anticipated by the European Union."In 2011, Lisbon has to repay 26 billion in debt coming due," had told France 24, March 24, Celine Antonin, an economist at the French Observatory of Economic Conditions (OFCE). The EU therefore expects that Portugal is obliged to repay 26 billion per year until 2013.
Is it really a "good plan", as said Jose Socrates? "It [the plan] is good because the compromise shows that the EU approves the austerity measures taken by lLisbonne," said France 24 Christophe Blot, an economist at the OFCE specialist and the EU.In short: the "potion" austerity that Portugal will have to drink to its population will be less bitter than the beverage Irish and Greek.
Indeed, Jose Socrates said Wednesday that there would be no decrease in the minimum wage, abandonment of the 13th and 14th month in the civil service, privatization or the Deposit and Consignment: all measures that Ireland and Greece had to be in pain. "Make no mistake, Portugal had already adopted several of these provisions - such as reducing the minimum wage," said Christophe Blot.
Are there counterparts requested in Portugal? Nothing new under the sun. As in "cases" Greek and Irish, EU and IMF require Portugal to slash their deficits.In 2010 it was 9.1% of GDP and should be reduced to 5.9% this year to 4.5% in 2012 and 3% in 2013. "It's about the same as Ireland and Greece, which means that the plan condemned Portugal to the recession in the coming years," said Christophe Blot: "It may be a good plan, but bad news for the Portuguese. " To achieve this, there is no recipe. Lisbon will prepare yet another austerity program with cuts in social spending and a likely tax increase.
Portuguese Prime Minister has however welcomed the calendar. He had indeed set targets for deficit reduction more stringent (4.6% of GDP in 2011, 3% in 2012 and 2% in 2013)."But at the time, it was essentially announcement effect to reassure financial markets and avoid having to apply for financial assistance to the European Union," says Christophe Blot. He said the compromise reached Tuesday night just to ask essentially targets more "realistic".
Friday, April 29, 2011
FOOTBALL: The French federation accused of racial discrimination by a journalistic investigation
Are there too many blacks and Arabs in the French football? That, in essence, the debate which would have appealed to the French Football Federation (FFF) in recent months, according to a survey published Thursday by the site Mediapart.
In the article, the three authors of the survey denounced the holding of hearings in camera on the subject since the end of 2010. These discussions have led to some troubling conclusions, according to Mediapart."For the highest level of French football, the case is heard: there are too many blacks, too many Arabs and not enough white on the land," have said several leaders of French football.
"Several leaders of the National Technical Directorate (DTN) of the French Football Federation (FFF), the coach of the Blues himself, Laurent Blanc, approved in the greatest secrecy, early 2011, the principle of discriminatory quotas informal in training centers and schools of football country, "develops this investigation.
"The 30% figure has even been suggested, January 18, 2011, by the technical director [Francis Blaquart] at a meeting of the DTN. 'But he did not let it be said, has been careful to said Mr.Blaquart "insists Mediapart, who claims to have obtained this information from several reliable sources.
"According to sources inside the FFF, outraged by the process, instructions have been given this direction in recent weeks in various centers responsible for training, including the French National Institute (INF) at Clairefontaine," continues the section.
FFF demented Mediapart ready to publish the evidence
Faced with Brulot published on the website, the FFF was quick to react.Philippe Tournon, Head of Press Service of the France team, told FRANCE 24 that Laurent Blanc was "deeply attached to freedom and [...] resistant to any form of discrimination" and that "[declined] formally being associated in any way to these stories of quotas. "
The Head of Press Office of the France team nevertheless acknowledged the holding of debates on dual nationality for some players trained by the French centers, while attacking an amalgam.
Fernand Duchossoy, president of the FFF, which has also denounced this amalgam, confirmed to AFP that a debate on a related topic was the agenda: "There is an observation, but it is not reflection. This one has plenty of players with dual nationality among youth and then some do not want to go for France. It is a choice, we must assume. "
Despite denials from the rain, the site Mediapart reaffirmed his serenity about the statements reported in its investigation. One of its authors, Fabrice Arfi, explained Thursday night broadcast on RMC: "We are very serene face of denials. We hold the evidence of what we say.And if the denials are too insistent, of course, we shall have to publish the evidence. "
"French football is racist"
The publication of the first part of this investigation has caused an earthquake in the world of French sport. Sports Minister Jouanno Chantal, who "[took] note" of the denial of the Federation, called on relevant authorities to "do it very quickly shed light on [these] allegations."
If the major players in French football still refusing to comment on the remarks relayed by Mediapart, some have followed suit of Internet media to denounce a more general situation.On RMC, Pape Diouf has rebounded on the publication of the article to castigate the state of French football, "French football is a reflection of its society. It is racist and excludes says the former chairman of the Olympique de Marseille. [...] I do not say that [these allegations] are true, but in any case, they fully reflect the reality of time and timing. "
The newspaper The team gathered for its part, the testimony of another symbol of diversity footballing Allen, the former central defender Lilian Thuram for France, who expressed his excitement to sports daily " I am so shocked that I do not know what to say. It is a world falling apart.But I do not want to be in the emotion to respond. I expect to have more elements. So I want to talk to people Mediapart. If this story is true, it does not stop there. "
The Federal Council, held on Friday, said the investigation Mediapart its agenda. The national technical director Francis Blaquart, one of the leaders openly referred to the article, will hold a press briefing following the meeting.